Avoid banks, telcos and property: top Philippines broker

The Philippines’ leading domestic brokerage continues to advocate that investors avoid banks, telecom stocks and property companies, according to head of research Jojo Gonzales. However he remains bullish on the prospects of the country’s market under the new government in 2011.

22 Nov 2010

Equity investors interested in the Philippines should avoid holding telecoms, banks or property stocks, says Jojo Gonzales, head of research at Philippine Equity Partners, the top domestic brokerage for the Philippines in Asiamoney’s latest Brokers Poll.

For people familiar with the brokerage the warning is a familiar one. Gonzales
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